Finxact and KPMG:

Your customers are navigating a world with more consumer choice than ever before.  Having too many choices can lead to information overload and confusion, not only in selecting the right product, but also for how to purchase it. After finally making the product selection, consumers are often then faced with a myriad of financial options by the merchant: BNPL, 12 month no interest credit cards, white label lending and 3rd party lending partners, to name a few.  Operating within this environment, the consumer is likely to make purchase decisions that result in fragmented financial relationships for them and missed servicing opportunities for their primary bank.   

We believe that all customers want and deserve a relationship with a trusted financial partner that will help cut through this complexity and simplify their financial lives.  Simply put, they want to feel like they are a Segment of One.  Banks that can deliver on this have the potential to enhance their competitive advantage over peers which may thereby lead to better bottom line results.

Research shows that today’s digital-savvy consumers are demanding that companies they engage with demonstrate that they Know Me, can Help Me and Value Me and will reward companies that meet those expectations.  Given the important role they play in their customers’ financial health, banks must deliver on a fourth customer expectation – that they Care About Me and my financial well-being.  Forward thinking banks that offer hyper-personalized interactions that meet all four customer expectations will help inspire greater customer trust and loyalty, can better assist customers in making tailored financial/transaction decisions and, ultimately, these participants will help drive revenue growth through increased wallet share.

KPMG LLP (US) is teaming with Finxact to enable product innovations that enable flexible and personalized digital concepts on the Finxact next-gen platform.  This helps banks deliver on this Segment of One customer experience safely and responsibly.  

Examples include retail banking customer-centric lending hubs which offers features to meet the customer where they are in their purchase cycle along with business banking solutions to enable treasury and commercial onboarding.   These solutions utilize the real-time modern core banking system from Finxact for both retail and business banking customers in a trusted and secure way that may better fit their needs while operating in a secured environment as provided by the participating Bank.

Some or all of the services or offerings described herein may not be permissible for KPMG audit clients and their affiliates or related entities.